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Can anyone answer please...I honestly don't understand why this Python (1978) sold for just of $2,000 today? I thought that was rather cheap, considering the condition, and stocks looked nice.

Was watching it on gun broker, but then when the bidding didn't run at close, I became concerned that the market may be flattening out for these?
http://www.gunbroker.com/item/706653277

Just asking for discussion reasons...

Thanks,

Ldogmiller
 

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There is certainly deals to be had on every day production shooter Pythons. I picked up a perfect 4" Stainless one for $2800 on Gunbroker about a month ago. As you pointed out, many blued models are going in the $2000 range. Most of these guns sell without a box or paperwork. Pythons are not rare. Colt made some 600,000 of them.

IMHO I think the market may have had a slight bubble and has slowed a bit over the last year or so for these "average Joe" Pythons.

The prices for unusual variations and mint boxed (unfired) guns will always be higher. This is simply due to a more limited number of these are available and are generally the only ones of interest to serious collectors willing to pay a bigger premium.
 

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To me it looks like the market is getting more mature. People used to pay crazy prices as they thought all Pythons are rare, and this sentiment was supported by dealers who acted like they were some kind of financial advisers. In all reality it's a very common gun, and during the "gold rush" there were so many of them coming out of the wood works that the market couldn't support the inflated pricing anymore. Gun stores that have them sitting unsold at yesterdays prices are now getting tired of them, and I wouldn't be surprised to see them dumping the guns before prices drop even more. Prices on common models (like the one in the auction) are now getting back to a more reasonable level, and some of the dealers have moved on to "rare" S&Ws instead.

It's really sad to see that some people spent a ton of money on common model Pythons, after being told that "they are a rock solid investment". With more than half a million of them made, it's not difficult to see that they're not as rare as people thought they were. 3-4 years ago, one of my customers bought a 6" blued Python for $3k, saying that it was better than money in the bank. Now he's trying to sell and he will probably lose about $1k, so he would have been better off leaving the money in the bank.
 

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Way too many people were banking on the Hildebeest winning the White House and thought the crazy gun market was going to keep its unsustainable increases in prices. If she would have won then maybe that might have continued for a while but ultimately it would have ended...but we'll never know and we're actually better off for it. When politics and the free market collide bad things all too often happen.

Real estate bubbles...stocks and bond bubbles...tech bubbles...it's happened before and will happen again. We have to recognize that happens in a free society with free markets. The smart people are the ones who get in early and get out when they recognize the peak of the bubble. That's a definition of speculating...if one speculates and wins...more power to them. When someone speculates and ends up on the losing end...I don't feel too sorry for them...they knew the risks and did so willingly. When the market drops when the bubble bursts, it's not my job to bail them out when they paid too much for the product whether it's Pythons, any other snake gun or real estate or any other commodity.
 
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Wouldn't be the first gun to have it's price run up artificially high on the premise that they will only get higher. There should be several reasons other than panic buying for the price to go up.

It hasn't been that long ago here that Python buyers were talking like stock brokers on a run.
 

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Wouldn't be the first gun to have it's price run up artificially high on the premise that they will only get higher. There should be several reasons other than panic buying for the price to go up.

It hasn't been that long ago here that Python buyers were talking like stock brokers on a run.
I see many similarities with the Luger market. Not too long ago, people paid through the nose for these "rare" guns, then it crashed and burned when people realized that there are not very rare and that there are (surprise) different models. For a while, you couldn't touch them for less than $1500, now you can buy a very nice, all matching .30 commercial for half of that. Some bought every Luger they could find as "an investment", and many of those are now sitting there with mismatched and refinished duds just because they didn't do their homework first. The market has educated itself, good reference books have been published and people on the gun forums are now more interested in the guns than the money. I believe this is exactly what's happening to the Colt market, people are getting very tired of the "investment" part and getting more interested in actual collecting instead.

What really gets me is that so many were (and still are) willing to take a seller's word at face value. They won't do that when buying a car, a boat or even a lawn mower, but they do when buying a gun at top dollar.
 

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I predicted this about 3-4 years ago on this forum on many posts. I was often debated, criticized, or more for saying so. Usually by either dealers in Pythons, or by people that had just bought one or two of them in the spiking prices. I stuck to my guns (no pun) and continued to explain bubble markets, collecting fads, and the reasons I knew Pythons would eventually be unable to sell for what people were buying them for. Here are a few of my posts from years ago:
http://www.coltforum.com/forums/colt-revolvers/80518-snake-gun-bubble-post617054.html#post617054
http://www.coltforum.com/forums/pyt...rs-thoughts-thread-post831013.html#post831013
http://www.coltforum.com/forums/colt-revolvers/80518-snake-gun-bubble-post619133.html#post619133

The "Python stock brokers" made tens of thousands of dollars buying low and selling $3000 Pythons to people they told were "investing". Really the only investment was for people that bought them years ago, or dealers that flipped them within 2 months of purchasing one cheaply.
 

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Azshot,

I had to take a lot of flak for speaking up as well, and many times I felt like the little boy in "The Emperor's new clothes". Nobody wanted to appear stupid by stating something that contradicted common belief, and this is why the hype could continue for so long. It was there for everybody to see, but people were so caught up in their rosy red dreams about perpetually increasing prices that they didn't want to hear about it. I saw the same thing as you did, many were desperately trying to justify the inflated market as they had to much to lose if they didn't. It's Beanie Babies all over again.
 

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Yep, you and me both! I just felt compelled to try to protect new collectors that were being told to buy Pythons, and buy often.
 

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Well ya don't lose a thing till ya sell.....so just hold onto them for 20 years and you'll be good......

I have always used the BUY HIGH SELL LOW method and it has always worked for me.....

I usually tell people all my guns are paid for with the depreciation I don't lose on my used cars.....

When you buy a new truck for $60K and 5 years later it is worth maybe $15K I can spend the $45K on guns and still be driving an old truck....

Well that's how I explain it to the wife ........YMMV....RR
 

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re: Olle / az

Didn't I see you two on Mornings With Maria" last week ... ;^)

I've been in retail guns for over 30 years . There are exceptions of course ,, but my reply for decades has been "yes" when a customer asks "is it a good investment" . They're an investment in shooting fun , or yes if you enjoy the history and workmanship and finally yes in personal security . They're not a reliable investment for long term financial gain .
 

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Didn't I see you two on Mornings With Maria" last week ... ;^)

I've been in retail guns for over 30 years . There are exceptions of course ,, but my reply for decades has been "yes" when a customer asks "is it a good investment" . They're an investment in shooting fun , or yes if you enjoy the history and workmanship and finally yes in personal security . They're not a reliable investment for long term financial gain .
LOL! :D Yeah, I guess she would have a heyday with analyzing the Colt market.

I'm in the gun business as well (mostly WWI-WWII C&Rs) and I actually give people the same advice as you do. Collectible guns will normally go up at a slow and steady rate, but when you see some models skyrocket like the "snake guns" did, you better watch out. You can apply the same rules as you do in the stock market: If something shoots up at an incredible rate you better find out how and why before you buy, as it can fall like a rock the next day. Hysteria and buying frenzy are common phenomenons among most types of collectors, and if you get carried away you will most often lose money.

You can also look at it from a purely mathematical perspective: With 600k guns made (and that's only counting the Pythons) and a population of roughly 325 million people in the US, how many would have the means to spend, let's say $3k on a gun? At that price, the guns have outnumbered the potential customers, even if you assume that only half of the Pythons remain in circulation. Add Diamondbacks, King Cobras, Anacondas etc and it becomes even more obvious.
 

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Markets do go up and down as we have all seen. I have collected the pre war Colts for the last 50 plus years and even with the up's and downs they have all increased in value and beat the market. I have always believed that if you collect quality guns that you will never really loose money in them. I bought guns for the love of collecting and if they rise in value then that's a plus. So far I have no complaints. The Pythons went up in value extremely fast over the last ten years so they may be doing some adjusting right now but should certainly increase in value over time.
 

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I'd hardly compare Pythons to Beanie Babies. In fact, I find it hard to even call it a real burst bubble in any real sense of the word. Those things are products with little to no value that are artificially inflated to obscene values and when the bubble bursts you are left with nothing.

Here, at the end of the day, we are still left with an elite high quality gun that will ALWAYS have some decent intrinsic value. While much of the "premiums" paid over the rush for everyone to get their hands on Pythons, that are clearly not rare, will dissolve. But when those premiums dissolve, we are sill left with revolvers at the top of the revolver market. So those people who didn't pay premiums will do just fine. And those who did, still have a $2000 gun that will never drop below that (obviously with rare exceptions for beat up guns) and will increase over time as all Colts do eventually.
 

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When I bought my 99.9%-100% maybe unfired 6" Blued Python two years ago for $1700, no box or paperwork, I felt like I stole it, now I feel like I payed a fair price for it. I have since fixed the unfired issue, and fire it every couple of months. While I can always recoup my money in it, I simply enjoy the artistic beauty , and the great feeling I have shooting the best production revolver. Now if I paid $4000 for it two years ago, I would probably have a more cynical view.
 

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Colts last retail price of 1150 for either a blued or stainless python in 2004 seems low by today's craziness. Although at the time, one could find nice examples for 7-800. I think the market took a permanent price adjustment once colt announced they were done making it. People who were considering buying one, bought one. The NRA article a few years ago also brought interest. I believe apollo99 pricing is about right for a common python considering normal inflation. This is the first I had heard that 600,000 were made. I missed out on a nicely reblued 4" shooter for $975 at the Knob creek machine gunner shoot Friday.
 

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The "Python stock brokers" made tens of thousands of dollars buying low and selling $3000 Pythons to people they told were "investing". Really the only investment was for people that bought them years ago, or dealers that flipped them within 2 months of purchasing one cheaply.
You remember the dealer's cult of followers, I called them the cheerleaders. You can see them in your old links. People who appeared to be "average" Colt enthusiasts but were rather investment type speculators who developed "special" relationships with the dealers. They pretty much all joined right in the beginning of 2014 when things really "took off". They rode the wave for about 6mos, maybe pushing a year. I seen them push agendas, defend against accusations, make up excuses, and even shill bid. The whole forum loved it.

Now, where are any of them?

Not here, because they have no real love or commitment to the hobby. It's purely a business for profit, or a quick way to make some dividends, and I never understood why it was so hard to see that. All those forum "appointed" experts aren't here giving daily expert advice anymore, that's weird.
 

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You remember the dealer's cult of followers, I called them the cheerleaders. You can see them in your old links. People who appeared to be "average" Colt enthusiasts but were rather investment type speculators who developed "special" relationships with the dealers. They pretty much all joined right in the beginning of 2014 when things really "took off". They rode the wave for about 6mos, maybe pushing a year. I seen them push agendas, defend against accusations, make up excuses, and even shill bid. The whole forum loved it.

Now, where are any of them?

Not here, because they have no real love or commitment to the hobby. It's purely a business for profit, or a quick way to make some dividends, and I never understood why it was so hard to see that. All those forum "appointed" experts aren't here giving daily expert advice anymore, that's weird.
I think you will find "them" on FACE BOOK now.......the one's that are left.....it was fun while it lasted.....
 
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